HermannHesse
Short

GBPJPY Bearish Bat Pattern

FX:GBPJPY   British Pound / Japanese Yen
151 3 4
The rally in GBPJPY             is going to reach the D point of a Bearish Bat Pattern.

1. Bat Pattern
2. RSI high
3. MACD 4C bullish to reach D


TP1 at .382 CD leg
TP2 at .618 CD leg
SL 1:1 with TP1

Advice: Take care trading GBP market this days due to the Thursday 5th Bank Of England meeting. If the market reaches point D before, perhaps it is good to wait for the resolution.
Comment: Reached. Waiting for the consequences of the meeting.
Trade active
Hi there! is the bat still valid today?
Reply
HermannHesse NicholasPrinsloo
Hi man! Bat pattern strictly completes the first time that .886 fib CD leg is reached. Anyway you can always take advantage of a bullish momentum to get into a good position. The problem here is that it has already reached the TP1 so I would not recommend. Regards.
Reply
HermannHesse HermannHesse
I mean .886 fib XA leg, of course.
Reply
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